BANK OF AMERICA CORP (BAC) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

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1 Q4-16 Financial Highlights1 Q4-16 Business Segment Highlights1 Consumer Banking Global Wealth and Investment Management Global Banking Global Markets CEO Commentary 1 Financial Highlights and Business Segment Highlights compare to the year-ago quarter unless noted. Loan and deposit balances are shown on an end-of-period basis. 2 Combined consumer credit/debit spending, including GWIM, excludes the impact of portfolio divestitures. Including divestitures, combined spending was up 4%. 3 Period-end loan balances for Q4-16 include $9.2 billion of non-U.S. consumer credit card loans, which are included in assets of business held for sale on the consolidated balance sheet. • Loans up $20.1 billion; deposits up $55 billion • Brokerage assets increased 18% • Mobile banking active users increased 16% to 21.6 million • Total credit/debit card spending up 6%2 • Revenue, net of interest expense, increased 2% to $20.0 billion from $19.6 billion – Net interest income (NII) increased 6% to $10.3 billion, reflecting benefits from higher interest rates as well as growth in loans and deposits, partially offset by $0.2 billion in market-related debt hedge ineffectiveness(A) – Excluding adjustments for certain trust preferred securities in Q4-15, NII was relatively flat(A) – Noninterest income decreased 2% to $9.7 billion from $9.9 billion • Provision for credit losses declined to $774 million from $810 million. Net charge-offs declined to $880 million from $1.1 billion; net charge-off ratio improved to a historic low of 0.39% • Noninterest expense declined 6%, or $849 million, to $13.2 billion • Pretax earnings up 27% to $6.1 billion • Net income increased 43% to $4.7 billion, and EPS increased 48% to $0.40, compared to $3.3 billion and $0.27, respectively • Loan balances increased $19 billion to $915.9 billion.3 Deposit balances increased $64 billion to $1.26 trillion • Return on average assets 0.85%; return on average common equity 7.0%; return on average tangible common equity 9.9%(C) • Book value per share rose 7% to $24.04; tangible book value per share(C) rose 9% to $16.95 • Repurchased $5.1 billion in common stock and paid $2.6 billion in common stock dividends in 2016 • Total client balances increased $50.5 billion to more than $2.5 trillion • Loans up $9.1 billion • Pretax margin improved to 23% • Long-term assets under management (AUM) flows of $18.9 billion • Loans up $15.6 billion; deposits up $10.3 billion • Total Corporation investment banking fees of $1.2 billion • Return on average allocated capital (ROAAC) increased to 17% • Sales and trading revenue of $2.8 billion, including negative net debit valuation adjustment (DVA) of $101 million • Excluding net DVA, sales and trading revenue up 11%(B) – Fixed income up 12%(B) – Equities up 7%(B) Bank of America Reports Q4-16 Net Income of $4.7 Billion, EPS of $0.40 Increases Planned Common Stock Repurchases for First-Half 2017 by $1.8 Billion to $4.3 Billion “We had strong results in 2016 because our strategy is working. We are lending more and seeing historically low charge-offs, which is what responsible growth is all about. Revenue was up modestly, but EPS grew by 15% as we continued to manage our expenses and create operating leverage. With strong leadership positions in our businesses against a backdrop of rising interest rates, we are well-positioned to continue to grow and deliver for our shareholders in 2017." — Brian Moynihan, Chief Executive Officer Balance Sheet Highlights ($ in billions, at end of period) December 31, 2016 September 30, 2016 December 31, 2015 Total assets $2,187.7 $2,195.3 $2,144.3 Total loans and leases 906.7 905.0 897.0 Including non-U.S. consumer credit card 915.9 905.0 897.0 Total deposits 1,260.9 1,232.9 1,197.3 Global Liquidity Sources(D) 499 522 504 Common equity tier 1 (CET1) ratio (transition) 11.0% 11.0% 10.2% CET1 ratio (fully phased-in)(E) 10.8% 10.9% 9.8%


The following information was filed by BANK OF AMERICA CORP on Friday, January 13, 2017 as an 8K 2.02 statement, which is a press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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  • bac_10k_2017-02-23_259_1971
    Financial - Expense
    primarily driven by improved operating efficiencies and lower fraud costs due to the benefit of the Europay, MasterCard and Visa EMV chip implementation, as well as lower personnel expense.
  • bac_10k_2017-02-23_1792_2985
    Financial - Expense
    primarily due to lower litigation expense and technology initiative costs.
  • bac_10k_2017-02-23_560_476
    Revenue - Product
    These contingency plans include our Capital Contingency Plan, Contingency Funding Plan and Recovery Plan, which provide monitoring, escalation, actions and routines designed to enable us to increase capital, access funding sources and reduce risk through consideration of potential options that include asset sales, business sales, capital or debt issuances, or other de-risking strategies.
  • bac_10k_2017-02-23_1676_1557
    Financial - Cash Flow
    A one-percent decrease in the expected cash flows could result in a $127 million impairment of the portfolio.
  • bac_10k_2017-02-23_1676_1555
    Financial - Cash Flow
    However, subsequent decreases in the expected cash flows from the date of acquisition result in a charge to the provision for credit losses and a corresponding increase to the allowance for loan and lease losses.
  • bac_10k_2017-02-23_388_2073
    Revenue - Product
    driven by growth in treasury-related revenue as well as higher net interest income driven by the beneficial impact of an increase in investable assets as a result of higher deposits.
  • bac_10k_2017-02-23_179_155
    Financial - Earnings
    In addition, profitability, relationship and investment models use both return on average tangible common shareholders equity and return on average tangible shareholders equity as key measures to support our overall growth goals.
  • bac_10k_2017-02-23_323_259
    Financial - Income
    The decline in noninterest income was driven by lower transactional revenue and decreased asset management fees primarily due to lower market valuations in
  • bac_10k_2017-02-23_1840_1698
    Financial - Expense
    Interest expense includes the impact of interest rate risk management contracts, which decreased interest expense on the underlying liabilities by
  • bac_10k_2017-02-23_2093_1735
    Financial - Expense
    Interest expense includes the impact of interest rate risk management contracts, which decreased interest expense on the underlying liabilities by
  • bac_10k_2017-02-23_1794_1690
    Revenue - Product
    Revenue, excluding net DVA, decreased due to lower trading account profits from declines in credit-related businesses, lower investment banking fees and lower equity investment gains as 2014 included gains related to the IPO of an equity investment, partially offset by an increase in net interest income.
  • bac_10k_2017-02-23_509_376
    Financial - Expense
    The ongoing environment of additional regulation, increased regulatory compliance obligations, and enhanced regulatory enforcement, combined with ongoing uncertainty related to the continuing evolution of the regulatory environment, has resulted in increased operational and compliance costs and may limit our ability to continue providing certain products and services.
  • bac_10k_2017-02-23_1773_2977
    Financial - Expense
    primarily due to a decrease of $15.2 billion in litigation expense which was primarily related to previously disclosed legacy mortgage-related matters and other litigation charges in 2014.
  • bac_10k_2017-02-23_905_826
    Financial - Expense
    Additionally, net charge-offs declined driven by favorable portfolio trends and decreased write-downs on loans greater than 180 days past due, which were written down to the estimated fair value of the collateral, less costs to sell, due in part to improvement in home prices and the U.S. economy.
  • bac_10k_2017-02-23_39_44
    Other - Other
    With a stronger economy, rising inflation and continued labor market tightening, Federal Reserve members raised expectations that if economic growth continued, the pace of rate increases will pick up in 2017, although the removal of accommodation would remain gradual.
  • bac_10k_2017-02-23_562_481
    Other - Other
    On an annual basis, the Board reviews and approves the strategic plan, capital plan, financial operating plan and Risk Appetite Statement.
  • bac_10k_2017-02-23_1795_2986
    Financial - Expense
    largely due to lower litigation expense and, to a lesser extent, lower revenue-related incentive compensation and support costs.
  • bac_10k_2017-02-23_106_110
    Revenue - Product
    The increase consisted of $18.9 billion in net loan growth driven by strong client demand for commercial loans, partially offset by $9.2 billion in non-U.S. credit card loans that were reclassified from loans and leases to assets of business held for sale, which is included in all other assets in the table above.
  • bac_10k_2017-02-23_269_228
    Financial - Income
    Total production income within mortgage banking income is comprised primarily of revenue from the fair value gains and losses recognized on our interest rate lock commitments IRLCs and loans held-for-sale LHFS, the related secondary market execution, and costs related to representations and warranties made in the sales transactions along with other obligations incurred in the sales of mortgage loans.
  • bac_10k_2017-02-23_77_77
    Financial - Expense
    primarily due to lower debit valuation adjustment DVA losses on structured liabilities, improved results from loans and the related hedging activities in the fair value option portfolio, and lower PPI expense, partially offset by lower gains on asset sales.
  • bac_10k_2017-02-23_1745_2957
    Financial - Expense
    was primarily driven by a decrease of $15.2 billion in litigation expense.
  • bac_10k_2017-02-23_764_724
    Other - Other
    In addition, under the terms of certain OTC derivative contracts and other trading agreements, in the event of downgrades of our or our rated subsidiaries credit ratings, the counterparties to those agreements may require us to provide additional collateral, or to terminate these contracts or agreements, which could cause us to sustain losses andor adversely impact our liquidity.
  • bac_10k_2017-02-23_1679_2919
    Other - Other
    risk ratings for commercial loans and leases, except loans and leases already risk-rated Doubtful as defined by regulatory authorities, the allowance for loan and lease losses would have increased by $2.8 billion at
  • bac_10k_2017-02-23_561_480
    Other - Other
    Our strategic plan is consistent with our risk appetite, capital plan and liquidity requirements, and specifically addresses strategic risks.
  • bac_10k_2017-02-23_316_2017
    Other - Other
    provides comprehensive wealth management solutions targeted to high net worth and ultra high net worth clients, as well as customized solutions to meet clients wealth structuring, investment management, trust and banking needs, including specialty asset management services.
  • bac_10k_2017-02-23_723_652
    Other - Other
    Changes in certain market factors, including, but not limited to, credit rating downgrades, could negatively impact potential contractual and contingent outflows and the related financial instruments, and in some cases these impacts could be material to our financial results.
  • bac_10k_2017-02-23_1839_3028
    Financial - Income
    Interest income includes the impact of interest rate risk management contracts, which decreased interest income on the underlying assets by
  • bac_10k_2017-02-23_2091_3263
    Financial - Income
    Interest income includes the impact of interest rate risk management contracts, which decreased interest income on the underlying assets by
  • bac_10k_2017-02-23_1356_1183
    Revenue - Geography
    Strengthening of the U.S. Dollar, weak commodity prices, signs of slowing growth in China, a protracted recession in Brazil and recent political events in Turkey are driving risk aversion in emerging markets.
  • bac_10k_2017-02-23_1080_952
    Financial - Expense
    , $2.5 billion, or 40 percent of nonperforming consumer real estate loans and foreclosed properties had been written down to their estimated property value less costs to sell, including $2.2 billion of nonperforming loans 180 days or more past due and $363 million of foreclosed properties.
  • bac_10k_2017-02-23_979_890
    Other - Other
    driven by favorable portfolio trends due in part to improvement in home prices and the U.S. economy.
  • bac_10k_2017-02-23_562_484
    Financial - Earnings
    The regular executive reviews focus on assessing forecasted earnings and returns on capital, the current risk profile, current capital and liquidity requirements, staffing levels and changes required to support the strategic plan, stress testing results, and other qualitative factors such as market growth rates and peer analysis.
  • bac_10k_2017-02-23_678_582
    Financial - Shares / Equity
    The first approach is a bank-based capital approach which requires that firms maintain Common equity tier 1 capital greater than or equal to the larger of 8.0 percent of the entitys RWA as calculated under Basel 3, or 8.0 percent of the margin of the entitys cleared and uncleared swaps, security-based swaps, futures and foreign futures positions.
  • bac_10k_2017-02-23_1783_1672
    Other - Other
    driven by continued improvement in credit quality primarily related to our small business and credit card portfolios.
  • bac_10k_2017-02-23_447_325
    Financial - Debt
    ALM activities encompass certain residential mortgages, debt securities, interest rate and foreign currency risk management activities, the impact of certain allocation methodologies and accounting hedge ineffectiveness
  • bac_10k_2017-02-23_465_2126
    Other - Other
    primarily due to higher representations and warranties provision, partially offset by more favorable MSR results, net of the related hedge performance, which includes a net
  • bac_10k_2017-02-23_755_708
    Financial - Debt
    Credit ratings and outlooks are opinions expressed by rating agencies on our creditworthiness and that of our obligations or securities, including long-term debt, short-term borrowings, preferred stock and other securities, including asset securitizations.
  • bac_10k_2017-02-23_1794_1689
    Financial - Expense
    primarily driven by lower noninterest expense and lower tax expense, partially offset by lower revenue.
  • bac_10k_2017-02-23_1768_2972
    Financial - Expense
    , primarily driven by a decrease of $15.2 billion in litigation expense as well as the following factors:
  • bac_10k_2017-02-23_1670_1544
    Other - Other
    The allowance for credit losses, which includes the allowance for loan and lease losses and the reserve for unfunded lending commitments, represents managements estimate of probable losses inherent in the Corporations loan portfolio excluding those loans accounted for under the fair value option.
  • bac_10k_2017-02-23_96_99
    Financial - Debt
    The increase in assets was primarily due to higher debt securities driven by the deployment of deposit inflows, an increase in loans and leases driven by client demand for commercial loans, and higher securities borrowed or purchased under agreements to resell due to increased customer financing activity.
  • bac_10k_2017-02-23_1388_1222
    Other - Other
    Our consumer real estate loss forecast model estimates the portion of loans that will default based on individual loan attributes, the most significant of which are refreshed LTV or CLTV, and borrower credit score as well as vintage and geography, all of which are further broken down into
  • bac_10k_2017-02-23_174_142
    Other - Other
    These non-GAAP financial measures are not intended as a substitute for GAAP financial measures and may not be defined or calculated the same way as non-GAAP financial measures used by other companies.
  • bac_10k_2017-02-23_581_541
    Other - Other
    Fully phased-in estimates are non-GAAP financial measures that the Corporation considers to be useful measures in evaluating compliance with new regulatory capital requirements that are not yet effective.
  • bac_10k_2017-02-23_784_2323
    Other - Other
    Improvement in the U.S. unemployment rate and home prices continued during
  • bac_10k_2017-02-23_1787_1678
    Revenue - Product
    driven by lower transactional revenue, partially offset by increased asset management fees due to the impact of long-term AUM flows and higher average market levels.
  • bac_10k_2017-02-23_221_1950
    Financial - Expense
    driven by improved operating efficiencies and lower fraud costs, partially offset by higher FDIC expense.
  • bac_10k_2017-02-23_1717_1613
    Financial - Shares / Equity
    The inputs to this model include the risk-free rate of return, beta, which is a measure of the level of non-diversifiable risk associated with comparable companies for each specific reporting unit, market equity risk premium and in certain cases an unsystematic company-specific risk factor.
  • bac_10k_2017-02-23_528_404
    Other - Other
    The Board, and its committees when appropriate, oversees financial performance, execution of the strategic and financial operating plans, adherence to risk appetite limits and the adequacy of internal controls.
  • bac_10k_2017-02-23_1137_985
    Other - Other
    in the renegotiated TDR portfolio was primarily driven by paydowns and charge-offs as well as lower program enrollments.
  • bac_10k_2017-02-23_1400_1252
    Financial - Shares / Equity
    Reductions in the residential mortgage and home equity portfolios were due to improved home prices, lower nonperforming loans and a decrease in consumer loan balances, as well as write-offs in our PCI loan portfolio.
  • bac_10k_2017-02-23_1225_2636
    Other - Other
    Nonperforming commercial real estate loans and foreclosed properties decreased $22 million, or 20 percent, to $86 million and reservable criticized balances
  • bac_10k_2017-02-23_1519_1326
    Other - Other
    Hedging instruments used to mitigate this risk include options, futures and swaps in the same or similar commodity product, as well as cash positions.
  • bac_10k_2017-02-23_35_36
    Other - Other
    Core inflation which, unlike headline inflation, excludes certain items subject to frequent volatile price change such as food and energy also increased during
  • bac_10k_2017-02-23_418_2094
    Financial - Expense
    primarily due to lower litigation expense and lower revenue-related expenses.
  • bac_10k_2017-02-23_176_145
    Financial - Income
    derive the FTE basis, net interest income is adjusted to reflect tax-exempt income on an equivalent before-tax basis with a corresponding increase in income tax expense.
  • bac_10k_2017-02-23_90_90
    Financial - Income
    The changes included reducing the U.K. corporate income tax rate by one percent to 17 percent, effective April 1, 2020.
  • bac_10k_2017-02-23_35_33
    Financial - Earnings
    Meanwhile, the labor market continued to tighten, and average hourly earnings increased at the fastest pace since 2008.
  • bac_10k_2017-02-23_15_1807
    Financial - Expense
    s business, financial condition and results of operations from a protracted period of lower oil prices or ongoing volatility with respect to oil prices the Corporations ability to achieve its expense targets or net
  • bac_10k_2017-02-23_1567_1403
    Revenue - Product
    Total trading-related revenue, excluding brokerage fees, and CVA, DVA and funding valuation adjustment FVA gains losses, represents the total amount earned from trading positions, including market-based net interest income, which are taken in a diverse range of financial instruments and markets.
  • bac_10k_2017-02-23_1026_2489
    Other - Other
    was primarily driven by continued home price improvement and lower default estimates on second-lien loans.
  • bac_10k_2017-02-23_288_1992
    Revenue - Product
    due to a decrease in production volume to be sold, resulting from a decision to retain certain residential mortgage loans in
  • bac_10k_2017-02-23_1756_2965
    Financial - Shares / Equity
    and an $869 million decrease in equity investment income as 2014 included a gain on the sale of a portion of an equity investment and gains from an initial public offering IPO of an equity investment in
  • bac_10k_2017-02-23_1330_1144
    Other - Other
    Credit risk reflects the potential benefit from offsetting exposure to non-credit derivative products with the same counterparties that may be netted upon the occurrence of certain events, thereby reducing our overall exposure.
  • bac_10k_2017-02-23_562_482
    Other - Other
    With oversight by the Board, executive management directs the lines of business to execute our strategic plan consistent with our core operating principles and risk appetite.
  • bac_10k_2017-02-23_127_1877
    Financial - Earnings
    driven by earnings and preferred stock issuances, partially offset by returns of capital to shareholders of $9.4 billion through common and preferred stock dividends and share repurchases, as well as a decrease in accumulated other comprehensive income OCI primarily due to an increase in unrealized losses on available-for-sale AFS debt securities as a result of higher interest rates.
  • bac_10k_2017-02-23_1747_1650
    Financial - Expense
    These declines were primarily driven by lower loan yields and consumer loan balances, as well as a charge of $612 million in 2015 related to the redemption of certain trust preferred securities, partially offset by lower funding costs, higher trading-related net interest income, lower rates paid on deposits and commercial loan growth.
  • bac_10k_2017-02-23_575_524
    Other - Other
    Effective January 1, 2015, the PCA framework was also amended to reflect the requirements of Basel 3.
  • bac_10k_2017-02-23_304_2005
    Other - Other
    due to a higher demand in the market based on improving housing trends, as well as improved financial center engagement with customers and more competitive pricing.
  • bac_10k_2017-02-23_569_505
    Financial - Shares / Equity
    over four quarters beginning in the third quarter of 2016, ii to repurchase common stock to offset the dilution resulting from certain equity-based compensation awards, and iii to increase the quarterly common stock dividend from $0.05 per share to $0.075 per share.
  • bac_10k_2017-02-23_179_153
    Financial - Shares / Equity
    Tangible equity represents an adjusted shareholders equity or common shareholders equity amount which has been reduced by goodwill and certain acquired intangible assets excluding MSRs, net of related deferred tax liabilities.
  • bac_10k_2017-02-23_377_2065
    Financial - Expense
    as investments in client-facing professionals in Commercial and Business Banking, higher severance costs and an increase in FDIC expense were largely offset by lower operating and support costs.
  • bac_10k_2017-02-23_420_2095
    Other - Other
    primarily driven by higher securities borrowed or purchased under agreements to resell due to increased customer financing activity as well as higher trading account assets due to client demand.
  • bac_10k_2017-02-23_1019_923
    Other - Other
    The total unpaid principal balance of pay option loans with accumulated negative amortization was $303 million, including $16 million of negative amortization.
  • bac_10k_2017-02-23_504_373
    Other - Other
    Adverse developments, with respect to one or more of the assumptions underlying the liability for representations and warranties and the corresponding estimated range of possible loss, such as investors or trustees successfully challenging or avoiding the application of the relevant statute of limitations, could result in significant increases to future provisions andor the estimated range of possible loss.
  • bac_10k_2017-02-23_1798_1692
    Financial - Expense
    with the improvement primarily driven by a $15.2 billion decrease in litigation expense, which is included in noninterest expense, as well as an $862 million increase in mortgage banking income, primarily due to lower representations and warranties provision.
  • bac_10k_2017-02-23_1663_1528
    Other - Other
    The Corporation manages reputational risk through established policies and controls in its businesses and risk management processes to mitigate reputational risks in a timely manner and through proactive monitoring and identification of potential reputational risk events.
  • bac_10k_2017-02-23_675_572
    Other - Other
    The proposals include a standardized approach for credit risk, standardized approach for operational risk, revisions to the credit valuation adjustment CVA risk framework and constraints on the use of internal models.
  • bac_10k_2017-02-23_571_510
    Other - Other
    The common stock repurchases may be effected through open market purchases or privately negotiated transactions, including repurchase plans that satisfy the conditions of Rule 10b5-1 of the Securities Exchange Act of 1934.
  • bac_10k_2017-02-23_1502_2827
    Other - Other
    was primarily attributable to increased coverage for the energy sector due to low oil prices which impacted the financial performance of energy clients.
  • bac_10k_2017-02-23_1521_1330
    Other - Other
    Market liquidity risk represents the risk that the level of expected market activity changes dramatically and, in certain cases, may even cease.
  • bac_10k_2017-02-23_1084_960
    Financial - Expense
    We exclude these amounts from our nonperforming loans and foreclosed properties activity as we expect we will be reimbursed once the property is conveyed to the guarantor for principal and, up to certain limits, costs incurred during the foreclosure process and interest incurred during the holding period.
  • bac_10k_2017-02-23_729_2291
    Other - Other
    We fund our assets primarily with a mix of deposits and secured and unsecured liabilities through a centralized, globally coordinated funding approach diversified across products, programs, markets, currencies and investor groups.
  • bac_10k_2017-02-23_1157_1018
    Other - Other
    , oil prices have stabilized, which contributed to a modest improvement in energy-related exposure by year end.
  • bac_10k_2017-02-23_1040_936
    Other - Other
    due to improvements in delinquencies and bankruptcies as a result of an improved economic environment and the impact of higher credit quality originations.
  • bac_10k_2017-02-23_1636_1470
    Financial - Earnings
    These net losses are expected to be reclassified into earnings in the same period as the hedged cash flows affect earnings and will decrease income or increase expense on the respective hedged cash flows.
  • bac_10k_2017-02-23_346_2041
    Revenue - Product
    , driven by market valuation increases and positive net flows, partially offset by the impact of the sale of BofA Global Capital Managements AUM.
  • bac_10k_2017-02-23_1573_1411
    Revenue - Product
    , positive trading-related revenue was recorded for 99 percent of the trading days, of which 84 percent were daily trading gains of over $25 million and the largest loss was $24 million.
  • bac_10k_2017-02-23_1574_2862
    Revenue - Product
    where positive trading-related revenue was recorded for 98 percent of the trading days, of which 77 percent were daily trading gains of over $25 million and the largest loss was $22 million.
  • bac_10k_2017-02-23_1391_1232
    Other - Other
    Factors considered when assessing the internal risk rating include the value of the underlying collateral, if applicable, the industry in which the obligor operates, the obligors liquidity and other financial indicators, and other quantitative and qualitative factors relevant to the obligors credit risk.
  • bac_10k_2017-02-23_1394_1242
    Revenue - Product
    In addition to these improvements, in the consumer portfolio, loan sales, returns to performing status, paydowns and charge-offs continued to outpace new nonaccrual loans.
  • bac_10k_2017-02-23_1538_2835
    Other - Other
    presents year-end, average, high and low daily trading VaR for
  • bac_10k_2017-02-23_1394_1241
    Other - Other
    Evidencing the improvements in the U.S. economy and labor markets are growth in consumer spending, downward unemployment trends and increases in home prices.
  • bac_10k_2017-02-23_1416_2748
    Other - Other
    in the ratio was primarily due to improved
  • bac_10k_2017-02-23_349_265
    Financial - Income
    Net interest income was up, primarily driven by growth in loan and deposit balances.
  • bac_10k_2017-02-23_1657_1516
    Other - Other
    In addition to enterprise risk management tools such as loss reporting, scenario analysis and Risk and Control Self Assessments RCSAs, operational risk executives, working in conjunction with senior business executives, have developed key tools to help identify, measure, monitor and control risk in each business and control function.
  • bac_10k_2017-02-23_975_879
    Financial - Shares / Equity
    In addition, $876 million, or 30 percent of nonperforming home equity loans, were 180 days or more past due and had been written down to the estimated fair value of the collateral, less costs to sell.
  • bac_10k_2017-02-23_975_878
    Other - Other
    Nonperforming loans that are contractually current primarily consist of collateral-dependent TDRs, including those that have been discharged in Chapter 7 bankruptcy, junior-lien loans where the underlying first-lien is 90 days or more past due, as well as loans that have not yet demonstrated a sustained period of payment performance following a TDR.
  • bac_10k_2017-02-23_90_91
    Financial - Income
    This reduction favorably affects income tax expense on future U.K. earnings, but required a remeasurement of our U.K. net deferred tax assets using the lower tax rate.
  • bac_10k_2017-02-23_2136_1756
    Other - Other
    AUM reflects assets that are generally managed for institutional, high net worth and retail clients, and are distributed through various investment products including mutual funds, other commingled vehicles and separate accounts.
  • bac_10k_2017-02-23_750_697
    Other - Other
    We could be required to settle certain structured note obligations for cash or other securities prior to maturity under certain circumstances, which we consider for liquidity planning purposes.
  • bac_10k_2017-02-23_1500_1273
    Other - Other
    In addition to the allowance for loan and lease losses, we also estimate probable losses related to unfunded lending commitments such as letters of credit, financial guarantees, unfunded bankers acceptances and binding loan commitments, excluding commitments accounted for under the fair value option.
  • bac_10k_2017-02-23_436_318
    Other - Other
    This was partially offset by a weaker performance in commodities, as lower volatility dampened client activity.
  • bac_10k_2017-02-23_520_2165
    Financial - Earnings
    Reputational risk is the risk that negative perceptions of the Corporations conduct or business practices may adversely impact its profitability or operations through an inability to establish new or maintain existing customerclient relationships or otherwise adversely impact relationships with key stakeholders, such as investors, regulators, employees and the community.
  • bac_10k_2017-02-23_1662_1526
    Financial - Earnings
    Reputational risk is the risk that negative perceptions of the Corporations conduct or business practices may adversely impact its profitability or operations through an inability to establish new or maintain existing customerclient relationships or otherwise impact relationships with key stakeholders, such as investors, regulators, employees and the community.
  • bac_10k_2017-02-23_1521_1332
    Other - Other
    This impact could be further exacerbated if expected hedging or pricing correlations are compromised by disproportionate demand or lack of demand for certain instruments.
  • bac_10k_2017-02-23_548_441
    Other - Other
    Global Risk Management is organized into enterprise risk teams, FLU risk teams and control function risk teams that work collaboratively in executing their respective duties.
  • bac_10k_2017-02-23_673_565
    Other - Other
    The rule will be effective January 1, 2019 and U.S. G-SIBs will be required to maintain a minimum external TLAC.
  • bac_10k_2017-02-23_1697_1589
    Other - Other
    These transfers are considered to be effective as of the beginning of the quarter in which they occur.
  • bac_10k_2017-02-23_217_179
    Other - Other
    primarily due to the beneficial impact of an increase in investable assets as a result of higher deposits.
  • bac_10k_2017-02-23_230_196
    Other - Other
    primarily due to the beneficial impact of an increase in investable assets as a result of higher deposits.
  • bac_10k_2017-02-23_265_223
    Financial - Earnings
    bps primarily driven by the impact of gains in 2015 on certain divestitures and a decrease in net interest margin, partially offset by an improvement in credit quality in the U.S. Card portfolio.
  • bac_10k_2017-02-23_74_1842
    Financial - Shares / Equity
    due to a stronger performance across credit products led by mortgages and continued strength in rates products, partially offset by reduced client activity in equities.
  • bac_10k_2017-02-23_70_1838
    Revenue - Product
    primarily due to higher treasury-related revenue.
  • bac_10k_2017-02-23_902_822
    Other - Other
    This decrease in net charge-offs was primarily driven by charge-offs related to the consumer relief portion of the settlement with the U.S. Department of Justice DoJ of $402 million in
  • bac_10k_2017-02-23_1142_994
    Other - Other
    In addition, risk ratings are a factor in determining the level of allocated capital and the allowance for credit losses.
  • bac_10k_2017-02-23_436_317
    Other - Other
    as rates products improved on increased customer flow, and mortgages recorded strong results.
  • bac_10k_2017-02-23_468_342
    Other - Other
    primarily driven by lower loan and lease balances from continued run-off of non-core consumer real estate loans.
  • bac_10k_2017-02-23_1682_1561
    Other - Other
    These sensitivity analyses do not represent managements expectations of the deterioration in risk ratings or the increases in loss rates but are provided as hypothetical scenarios to assess the sensitivity of the allowance for loan and lease losses to changes in key inputs.
  • bac_10k_2017-02-23_569_506
    Other - Other
    On June 29, 2016, following the Federal Reserves non-objection to our 2016 CCAR capital plan, the Board authorized the common stock repurchase beginning July 1, 2016.
  • bac_10k_2017-02-23_712_632
    Other - Other
    We have established operational procedures to enable us to borrow against these assets, including regularly monitoring our total pool of eligible loans and securities collateral.
  • bac_10k_2017-02-23_1511_1302
    Other - Other
    The EMRC oversees that model standards are consistent with model risk requirements and monitors the effective challenge in the model validation process across the Corporation.
  • bac_10k_2017-02-23_1507_1290
    Revenue - Geography
    The majority of this risk is generated by our activities in the interest rate, foreign exchange, credit, equity and commodities markets.
  • bac_10k_2017-02-23_1511_1300
    Other - Other
    The EMRC defines model risk standards, consistent with our risk framework and risk appetite, prevailing regulatory guidance and industry best practice.
  • bac_10k_2017-02-23_1716_1609
    Financial - Earnings
    The relative weight assigned to these multiples varies among the reporting units based on qualitative and quantitative characteristics, primarily the size and relative profitability of the reporting unit as compared to the comparable publicly-traded companies.
  • bac_10k_2017-02-23_757_711
    Financial - Earnings
    On January 24, 2017, Moodys Investors Services, Inc. Moodys improved its ratings outlook on the Corporation and its subsidiaries, including BANA, to positive from stable, based on the agencys view that there is an increased likelihood that the Corporations profitability will strengthen on a sustainable basis over the next 12 to 18 months while the Corporation continues to adhere to its conservative risk profile, lowering its earnings volatility.
  • bac_10k_2017-02-23_1504_1282
    Other - Other
    In the event of market stress, these risks could have a material impact on our results.
  • bac_10k_2017-02-23_1653_1499
    Other - Other
    The Corporation defines operational risk as the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events.
  • bac_10k_2017-02-23_519_2164
    Other - Other
    Operational risk is the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events.
  • bac_10k_2017-02-23_774_739
    Other - Other
    We manage credit risk based on the risk profile of the borrower or counterparty, repayment sources, the nature of underlying collateral, and other support given current events, conditions and expectations.
  • bac_10k_2017-02-23_1511_1301
    Other - Other
    Models must meet certain validation criteria, including effective challenge of the model development process and a sufficient demonstration of developmental evidence incorporating a comparison of alternative theories and approaches.
  • bac_10k_2017-02-23_1518_1323
    Other - Other
    Hedging instruments used to mitigate this risk include options, futures, swaps, convertible bonds and cash positions.
  • bac_10k_2017-02-23_756_2304
    Financial - Expense
    Other factors that influence our credit ratings include changes to the rating agencies methodologies for our industry or certain security types the rating agencies assessment of the general operating environment for financial services companies our relative positions in the markets in which we compete our various risk exposures and risk management policies and activities pending litigation and other contingencies or potential tail risks our reputation our liquidity position, diversity of funding sources and funding costs the current and expected level and volatility of our earnings our capital position and capital management practices our corporate governance the sovereign credit ratings of the U.S. government current or future regulatory and legislative initiatives and the agencies views on whether the U.S. government would provide meaningful support to the Corporation or its subsidiaries in a crisis.
  • bac_10k_2017-02-23_723_651
    Financial - Debt
    The types of potential contractual and contingent cash outflows we consider in our scenarios may include, but are not limited to, upcoming contractual maturities of unsecured debt and reductions in new debt issuance diminished access to secured financing markets potential deposit withdrawals increased draws on loan commitments, liquidity facilities and letters of credit additional collateral that counterparties could call if our credit ratings were downgraded collateral and margin requirements arising from market value changes and potential liquidity required to maintain businesses and finance customer activities.
  • bac_10k_2017-02-23_466_341
    Revenue - Product
    Gains on the sales of loans, including nonperforming and other delinquent loans were $232 million compared to gains of $1.0 billion in 2015.
  • bac_10k_2017-02-23_1760_2967
    Other - Other
    lower than net charge-offs for
  • bac_10k_2017-02-23_1376_2726
    Other - Other
    lower than net charge-offs for
  • bac_10k_2017-02-23_1346_2708
    Other - Other
    Securities and other investments are carried at fair value and long securities exposures are netted against short exposures with the same underlying issuer to, but not below, zero i.e., negative issuer exposures are reported as
  • bac_10k_2017-02-23_1205_1042
    Other - Other
    driven by downgrades, primarily related to our energy exposure, outpacing paydowns and upgrades.
  • bac_10k_2017-02-23_771_734
    Financial - Expense
    For derivative positions, our credit risk is measured as the net cost in the event the counterparties with contracts in which we are in a gain position fail to perform under the terms of those contracts.
  • bac_10k_2017-02-23_727_661
    Other - Other
    Effective April 1, 2017, the final rule requires us to disclose publicly, on a quarterly basis, quantitative information about our LCR calculation and a discussion of the factors that have a significant effect on our LCR.
  • bac_10k_2017-02-23_109_112
    Other - Other
    primarily due to the impact of improvements in credit quality from a stronger economy.
  • bac_10k_2017-02-23_696_611
    Other - Other
    Our cash is primarily on deposit with the Federal Reserve and, to a lesser extent, central banks outside of the U.S. We limit the composition of high-quality, liquid, unencumbered securities to U.S. government securities, U.S. agency securities, U.S. agency MBS and a select group of non-U.S. government and supranational securities.
  • bac_10k_2017-02-23_1338_1156
    Other - Other
    We define country risk as the risk of loss from unfavorable economic and political conditions, currency fluctuations, social instability and changes in government policies.
  • bac_10k_2017-02-23_234_198
    Other - Other
    driven by a continuing customer shift to more liquid products in the low rate environment.
  • bac_10k_2017-02-23_417_302
    Other - Other
    primarily due to a stronger performance globally across credit products led by mortgages and continued strength in rates products.
  • bac_10k_2017-02-23_981_2459
    Other - Other
    Outstanding balances with refreshed combined loan-to-value CLTV greater than 100 percent comprised
  • bac_10k_2017-02-23_178_151
    Other - Other
    We believe that the presentation of measures that exclude these items are useful because they provide additional information to assess the underlying operational performance and trends of our businesses and to allow better comparison of period-to-period operating performance.
  • bac_10k_2017-02-23_692_602
    Other - Other
    The Board approves our liquidity policy and the ERC approves the contingency funding plan, including establishing liquidity risk tolerance levels.
  • bac_10k_2017-02-23_516_2161
    Financial - Earnings
    Market risk is the risk that changes in market conditions may adversely impact the value of assets or liabilities, or otherwise negatively impact earnings.
  • bac_10k_2017-02-23_1503_1278
    Financial - Earnings
    Market risk is the risk that changes in market conditions may adversely impact the value of assets or liabilities, or otherwise negatively impact earnings.
  • bac_10k_2017-02-23_119_119
    Other - Other
    borrowings, notes payable and various other borrowings that generally have maturities of one year or less.
  • bac_10k_2017-02-23_181_160
    Financial - Shares / Equity
    The tangible equity ratio represents adjusted ending shareholders equity divided by total assets less goodwill and certain acquired intangible assets excluding MSRs, net of related deferred tax liabilities.
  • bac_10k_2017-02-23_1676_1554
    Other - Other
    Applicable accounting guidance prohibits carry-over or creation of valuation allowances in the initial accounting.
  • bac_10k_2017-02-23_349_264
    Financial - Income
    driven by a decline in noninterest income due to lower transactional revenue and asset management fees primarily related to lower market valuations, partially offset by the impact of long-term AUM flows.
  • bac_10k_2017-02-23_1420_2750
    Other - Other
    presents a rollforward of the allowance for credit losses, which includes the allowance for loan and lease losses and the reserve for unfunded lending commitments, for
  • bac_10k_2017-02-23_767_2310
    Other - Other
    For information on the additional collateral and termination payments that could be required in connection with certain OTC derivative contracts and other trading agreements as a result of such a credit rating downgrade, see
  • bac_10k_2017-02-23_1761_1659
    Financial - Expense
    Excluding these additional costs, the provision for credit losses in the consumer portfolio increased $1.1 billion compared to
  • bac_10k_2017-02-23_571_511
    Other - Other
    As a well-capitalized BHC, we may notify the Federal Reserve of our intention to make additional capital distributions not to exceed one percent of Tier 1 capital 0.25 percent of Tier 1 capital beginning April 1, 2017, and which were not contemplated in our capital plan, subject to the Federal Reserves non-objection.
  • bac_10k_2017-02-23_1675_1551
    Financial - Cash Flow
    For each one-percent increase in the loss rates on loans collectively evaluated for impairment in our Consumer Real Estate portfolio segment, excluding PCI loans, coupled with a one-percent decrease in the discounted cash flows on those loans individually evaluated for impairment within this portfolio segment, the allowance for loan and lease losses at
  • bac_10k_2017-02-23_1597_1454
    Revenue - Geography
    In addition, we use foreign exchange contracts, including cross-currency interest rate swaps, foreign currency futures contracts, foreign currency forward contracts and options to mitigate the foreign exchange risk associated with foreign currency-denominated assets and liabilities.
  • bac_10k_2017-02-23_240_201
    Other - Other
    driven by client flows and strong market performance.
  • bac_10k_2017-02-23_994_908
    Financial - Shares / Equity
    In the New York area, the New York-Northern New Jersey-Long Island MSA made up 13 percent of the outstanding home equity portfolio at both
  • bac_10k_2017-02-23_997_912
    Financial - Shares / Equity
    The Los Angeles-Long Beach-Santa Ana MSA within California made up 11 percent and 12 percent of the outstanding home equity portfolio in
  • bac_10k_2017-02-23_730_667
    Financial - Expense
    The primary benefits of our centralized funding approach include greater control, reduced funding costs, wider name recognition by investors and greater flexibility to meet the variable funding requirements of subsidiaries.
  • bac_10k_2017-02-23_1224_2635
    Revenue - Product
    We use a number of proactive risk mitigation initiatives to reduce adversely rated exposure in the commercial real estate portfolio, including transfers of deteriorating exposures to management by independent special asset officers and the pursuit of loan restructurings or asset sales to achieve the best results for our customers and the Corporation.
  • bac_10k_2017-02-23_534_408
    Other - Other
    The Board authorizes management to maintain an effective Risk Framework, and oversees compliance with safe and sound banking practices.
  • bac_10k_2017-02-23_2125_3293
    Financial - Income
    Reconciliation of income tax expense to income tax expense on a fully taxable-equivalent basis
  • bac_10k_2017-02-23_2111_3280
    Financial - Income
    Reconciliation of income tax expense benefit to income tax expense benefit on a fully taxable-equivalent basis
  • bac_10k_2017-02-23_598_547
    Other - Other
    Basel 3 fully phased-in Advanced approaches estimates assume approval by U.S. banking regulators of our internal analytical models, including approval of the internal models methodology IMM.
  • bac_10k_2017-02-23_663_558
    Other - Other
    Basel 3 fully phased-in Advanced approaches estimates assume approval by U.S. banking regulators of our internal analytical models, including approval of the IMM.
  • bac_10k_2017-02-23_1253_1083
    Other - Other
    primarily driven by portfolio improvement.
  • bac_10k_2017-02-23_220_181
    Other - Other
    primarily driven by a slower pace of improvement in the credit card portfolio.
  • bac_10k_2017-02-23_258_221
    Other - Other
    primarily driven by a slower pace of improvement in the credit card portfolio.
  • bac_10k_2017-02-23_1771_2975
    Financial - Expense
    due to lower default-related servicing expenses and legal fees.
  • bac_10k_2017-02-23_563_490
    Other - Other
    With oversight by the Board, executive management assesses the risk-adjusted returns of each business in approving strategic and financial operating plans.
  • bac_10k_2017-02-23_437_320
    Revenue - Geography
    primarily driven by lower levels of client activity, primarily in Asia, which benefited in 2015 from increased market volumes relating to stock markets rallies in the region, as well as weaker trading performance in derivatives.
  • bac_10k_2017-02-23_739_682
    Financial - Debt
    We issue long-term unsecured debt in a variety of maturities and currencies to achieve cost-efficient funding and to maintain an appropriate maturity profile.
  • bac_10k_2017-02-23_302_2003
    Other - Other
    driven by improving housing trends and a lower rate environment.
  • bac_10k_2017-02-23_1780_1667
    Financial - Income
    Net interest income decreased
  • bac_10k_2017-02-23_1785_1675
    Financial - Income
    Net interest income decreased
  • bac_10k_2017-02-23_175_143
    Financial - Income
    We view net interest income and related ratios and analyses on an fully taxable-equivalent FTE basis, which when presented on a consolidated basis, are non-GAAP financial measures.
  • bac_10k_2017-02-23_1531_1369
    Other - Other
    senior leadership communicates daily to discuss losses, key risk positions and any limit excesses.
  • bac_10k_2017-02-23_1729_1635
    Other - Other
    Changes to any one of these factors could significantly impact the estimate of our liability.
  • bac_10k_2017-02-23_1676_1558
    Financial - Cash Flow
    For each one-percent increase in the loss rates on loans collectively evaluated for impairment within our Credit Card and Other Consumer portfolio segment and U.S. small business commercial card portfolio, coupled with a one-percent decrease in the expected cash flows on those loans individually evaluated for impairment within the Credit Card and Other Consumer portfolio segment and the U.S. small business commercial card portfolio, the allowance for loan and lease losses at
  • bac_10k_2017-02-23_764_723
    Financial - Expense
    A reduction in certain of our credit ratings or the ratings of certain asset-backed securitizations may have a material adverse effect on our liquidity, potential loss of access to credit markets, the related cost of funds, our businesses and on certain trading revenues, particularly in those businesses where counterparty creditworthiness is critical.
  • bac_10k_2017-02-23_1640_1475
    Other - Other
    We recorded net after-tax losses on derivatives in accumulated OCI associated with net investment hedges which were offset by gains on our net investments in consolidated non-U.S. entities at
  • bac_10k_2017-02-23_788_2326
    Other - Other
    as a result of improved delinquency trends.
  • bac_10k_2017-02-23_183_161
    Financial - Shares / Equity
    We believe that the use of ratios that utilize tangible equity provides additional useful information because they present measures of those assets that can generate income.
  • bac_10k_2017-02-23_696_609
    Other - Other
    We maintain liquidity available to the Corporation, including the parent company and selected subsidiaries, in the form of cash and high-quality, liquid, unencumbered securities.
  • bac_10k_2017-02-23_755_710
    Other - Other
    The rating agencies could make adjustments to our ratings at any time, and they provide no assurances that they will maintain our ratings at current levels.
  • bac_10k_2017-02-23_1298_2680
    Other - Other
    to $925 million primarily due to an increase in reserves for the higher risk sub-sectors.
  • bac_10k_2017-02-23_578_538
    Other - Other
    Effective January 1, 2018, the Corporation will be required to maintain a minimum SLR of 3.0 percent, plus a leverage buffer of 2.0 percent in order to avoid certain restrictions on capital distributions and discretionary bonus payments.
  • bac_10k_2017-02-23_422_2097
    Financial - Earnings
    , reflecting an increase in net income, partially offset by an increase in allocated capital.
  • bac_10k_2017-02-23_735_675
    Other - Other
    Our lending activities may also be financed through secured borrowings, including credit card securitizations and securitizations with GSEs, the FHA and private-label investors, as well as FHLB loans.
  • bac_10k_2017-02-23_223_183
    Financial - Earnings
    percent, reflecting higher net income.
  • bac_10k_2017-02-23_524_390
    Other - Other
    Management reviews and approves the strategic and financial operating plans, as well as the capital plan and Risk Appetite Statement, and recommends them annually to the Board for approval.
  • bac_10k_2017-02-23_524_389
    Other - Other
    Executive management assesses, with Board oversight, the risk-adjusted returns of each business.
  • bac_10k_2017-02-23_242_1962
    Financial - Expense
    driven by changes in customer preferences to self-service options as we continue to optimize our consumer banking network and improve our cost-to-serve.
  • bac_10k_2017-02-23_2118_1743
    Other - Other
    We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation.
  • bac_10k_2017-02-23_2132_1747
    Other - Other
    We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation.
  • bac_10k_2017-02-23_1396_1245
    Other - Other
    While we experienced some deterioration in the energy sector in 2016, oil prices have stabilized which contributed to a modest improvement in energy-related exposure by year end.
  • bac_10k_2017-02-23_1383_1209
    Other - Other
    While we experienced some deterioration in the energy sector in 2016, oil prices have stabilized which contributed to a modest improvement in energy-related exposure by year end.
  • bac_10k_2017-02-23_1802_2992
    Other - Other
    Table IV Outstanding Loans and Leases
  • bac_10k_2017-02-23_1526_1353
    Other - Other
    In particular, the historical data used for the VaR calculation might indicate higher or lower levels of portfolio diversification than will be experienced.
  • bac_10k_2017-02-23_757_712
    Revenue - Geography
    The agency concurrently affirmed the current ratings of the Corporation and its subsidiaries, which have not changed since the conclusion of the agencys previous review of several global investment banking groups, including Bank of America, on May 28, 2015.
  • bac_10k_2017-02-23_128_128
    Financial - Cash Flow
    Our financing activities reflect cash flows primarily related to customer deposits, securities financing agreements and long-term debt.
  • bac_10k_2017-02-23_1342_1165
    Revenue - Geography
    On a product basis, the increase was driven by an increase in funded loans and loan equivalents in Germany and Canada, higher unfunded commitments in Germany and Switzerland, and an increase in securities in France and Canada.
  • bac_10k_2017-02-23_1284_1104
    Other - Other
    Increases in commercial committed exposure were concentrated in healthcare equipment and services, telecommunication services, capital goods and consumer services, partially offset by lower exposure to technology hardware and equipment, banking, and food, beverage and tobacco.
  • bac_10k_2017-02-23_1776_1665
    Other - Other
    The effective tax rate for
  • bac_10k_2017-02-23_1778_2981
    Other - Other
    The effective tax rate for
  • bac_10k_2017-02-23_85_1849
    Other - Other
    The effective tax rate for
  • bac_10k_2017-02-23_88_88
    Other - Other
    The effective tax rate for
  • bac_10k_2017-02-23_783_747
    Other - Other
    These models are a component of our consumer credit risk management process and are used in part to assist in making both new and ongoing credit decisions, as well as portfolio management strategies, including authorizations and line management, collection practices and strategies, and determination of the allowance for loan and lease losses and allocated capital for credit risk.
  • bac_10k_2017-02-23_1385_1212
    Other - Other
    The second component covers loans and leases on which there are incurred losses that are not yet individually identifiable, as well as incurred losses that may not be represented in the loss forecast models.
  • bac_10k_2017-02-23_1808_2998
    Other - Other
    Table X Non-exchange Traded Commodity
  • bac_10k_2017-02-23_1809_2999
    Other - Other
    Table XI Non-exchange Traded Commodity
  • bac_10k_2017-02-23_534_409
    Other - Other
    In addition, the Board or its committees conduct inquiries of, and receive reports from management on risk-related matters to assess scope or resource limitations that could impede the ability of independent risk management IRM andor Corporate Audit to execute its responsibilities.
  • bac_10k_2017-02-23_198_1931
    Other - Other
    Note 8 Goodwill and Intangible Assets
  • bac_10k_2017-02-23_1710_2937
    Other - Other
    The nature of and accounting for goodwill and intangible assets are discussed in
  • bac_10k_2017-02-23_1712_2939
    Other - Other
    Note 8 Goodwill and Intangible Assets
  • bac_10k_2017-02-23_1440_2770
    Revenue - Product
    Represents allowance related to the non-U.S. credit card loan portfolio, which is included in assets of business held for sale on the Consolidated Balance Sheet at December 31, 2016.
  • bac_10k_2017-02-23_676_579
    Other - Other
    Under the proposal, U.S. BHCs must calculate SCCL by dividing the net aggregate credit exposure to a given counterparty by a banks eligible Tier 1 capital base, ensuring that exposure to G-SIBs and other nonbank systemically important financial institutions does not breach 15 percent and exposures to other counterparties do not breach 25 percent.
  • bac_10k_2017-02-23_1111_967
    Other - Other
    Our policy is to record any losses in the value of foreclosed properties as a reduction in the allowance for loan and lease losses during the first 90 days after transfer of a loan to foreclosed properties.
  • bac_10k_2017-02-23_1391_1229
    Other - Other
    The statistical models for commercial loans are generally updated annually and utilize our historical database of actual defaults and other data, including external default data.
  • bac_10k_2017-02-23_1744_1646
    Financial - Earnings
    The increase in net income for
  • bac_10k_2017-02-23_1393_1234
    Other - Other
    Also included within the second component of the allowance for loan and lease losses are reserves to cover losses that are incurred but, in our assessment, may not be adequately represented in the historical loss data used in the loss forecast models.
  • bac_10k_2017-02-23_350_2044
    Financial - Income
    primarily driven by higher net interest income due to higher loan and deposit balances.
  • bac_10k_2017-02-23_48_63
    Revenue - Product
    At December 31, 2016, the assets of this business, which are presented in assets of business held for sale on the Consolidated Balance Sheet, included non-U.S. credit card loans of $9.2 billion.
  • bac_10k_2017-02-23_424_312
    Other - Other
    We believe the use of this non-GAAP financial measure provides additional useful information to assess the underlying performance of these businesses and to allow better comparison of period-to-period operating performance.
  • bac_10k_2017-02-23_1332_2704
    Other - Other
    We record counterparty credit risk valuation adjustments on certain derivative assets, including our credit default protection purchased, in order to properly reflect the credit risk of the counterparty, as presented in
  • bac_10k_2017-02-23_758_713
    Revenue - Geography
    On December 16, 2016, Standard & Poors Global Ratings S&P concluded its CreditWatch with positive implications for operating subsidiaries of four U.S. G-SIBs, including Bank of America.
  • bac_10k_2017-02-23_1673_1549
    Other - Other
    The degree to which any particular assumption affects the allowance for credit losses depends on the severity of the change and its relationship to the other assumptions.
  • bac_10k_2017-02-23_849_779
    Other - Other
    presents outstandings, nonperforming balances, net charge-offs, allowance for loan and lease losses and provision for loan and lease losses for the core and non-core portfolio within the consumer real estate portfolio.
  • bac_10k_2017-02-23_783_745
    Other - Other
    Statistical techniques in conjunction with experiential judgment are used in all aspects of portfolio management including underwriting, product pricing, risk appetite, setting credit limits, and establishing operating processes and metrics to quantify and balance risks and returns.
  • bac_10k_2017-02-23_622_2216
    Other - Other
    Defined benefit pension fund assets
  • bac_10k_2017-02-23_638_2231
    Other - Other
    Defined benefit pension fund assets phased in during transition
  • bac_10k_2017-02-23_645_2238
    Other - Other
    Defined benefit pension fund assets phased out during transition
  • bac_10k_2017-02-23_1813_3003
    Other - Other
    Table XV Five-year Reconciliations to GAAP Financial Measures
  • bac_10k_2017-02-23_1814_3004
    Other - Other
    Table XVI Quarterly Reconciliations to GAAP Financial Measures
  • bac_10k_2017-02-23_234_199
    Other - Other
    Growth in checking, traditional savings and money market savings of $53.8 billion was partially offset by a decline in time deposits of $6.1 billion.
  • bac_10k_2017-02-23_2032_3208
    Other - Other
    , and for corresponding reconciliations to GAAP financial measures, see Statistical Table XVI.
  • bac_10k_2017-02-23_2132_1748
    Other - Other
    Other companies may define or calculate these measures differently.
  • bac_10k_2017-02-23_2118_1744
    Other - Other
    Other companies may define or calculate these measures differently.
  • bac_10k_2017-02-23_2103_3272
    Other - Other
    and for corresponding reconciliations to GAAP financial measures, see Statistical Table XVI.
  • bac_10k_2017-02-23_581_542
    Other - Other
    For reconciliations to GAAP financial measures, see Table
  • bac_10k_2017-02-23_735_673
    Financial - Expense
    We consider a substantial portion of our deposits to be a stable, low-cost and consistent source of funding.
  • bac_10k_2017-02-23_143_1891
    Other - Other
    , and for corresponding reconciliations to GAAP financial measures, see Statistical Table XV on page
  • bac_10k_2017-02-23_1050_940
    Other - Other
    primarily driven by weakening of the British Pound against the U.S. Dollar.
  • bac_10k_2017-02-23_1658_1521
    Revenue - Geography
    The end-to-end RCSA process incorporates risk identification and assessment of the control environment monitoring, reporting and escalating risk quality assurance and data validation and integration with the risk appetite.
  • bac_10k_2017-02-23_1956_3135
    Other - Other
    Allowance for loan and lease losses as a percentage of total nonperforming loans and leases, excluding the allowance for loan and lease losses for loans and leases that are excluded from nonperforming loans and leases at December 31
  • bac_10k_2017-02-23_2053_3226
    Other - Other
    Allowance for loan and lease losses as a percentage of total nonperforming loans and leases, excluding the allowance for loan and lease losses for loans and leases that are excluded from nonperforming loans and leases
  • bac_10k_2017-02-23_1453_2783
    Other - Other
    Allowance for loan and lease losses as a percentage of total nonperforming loans and leases, excluding the allowance for loan and lease losses for loans and leases that are excluded from nonperforming loans and leases at December 31
  • bac_10k_2017-02-23_163_1908
    Other - Other
    Allowance for loan and lease losses as a percentage of total nonperforming loans and leases, excluding the allowance for loan and lease losses for loans and leases that are excluded from nonperforming loans and leases
  • bac_10k_2017-02-23_1297_1119
    Other - Other
    The energy allowance for credit losses increased $382 million in
  • bac_10k_2017-02-23_699_622
    Other - Other
    Our GLS are substantially the same in composition to what qualifies as High Quality Liquid Assets HQLA under the final U.S.
  • bac_10k_2017-02-23_1132_979
    Other - Other
    Modifications of credit card and other consumer loans are made through renegotiation programs utilizing direct customer contact, but may also utilize external renegotiation programs.
  • bac_10k_2017-02-23_1525_1351
    Other - Other
    This analysis identifies reasonable alternatives that replicate both the expected volatility and correlation to other market risk factors that the missing data would be expected to experience.
  • bac_10k_2017-02-23_1669_1542
    Other - Other
    Such credit and market conditions may change quickly and in unforeseen ways and the resulting volatility could have a significant, negative effect on future operating results.
  • bac_10k_2017-02-23_387_2072
    Other - Other
    driven by the impact of growth in loans and leases, as well as the impact from loans and the related loan hedging activities in the fair value option portfolio.
  • bac_10k_2017-02-23_1398_1248
    Other - Other
    Additions to, or reductions of, the allowance for loan and lease losses generally are recorded through charges or credits to the provision for credit losses.
  • bac_10k_2017-02-23_1793_1688
    Financial - Earnings
    Excluding net DVA, net income increased $170 million to $2.9 billion in
  • bac_10k_2017-02-23_752_699
    Other - Other
    We maintain contingency funding plans that outline our potential responses to liquidity stress events at various levels of severity.
  • bac_10k_2017-02-23_216_177
    Financial - Expense
    primarily driven by lower noninterest expense and higher revenue, partially offset by higher provision for credit losses.
  • bac_10k_2017-02-23_754_705
    Financial - Expense
    Our borrowing costs and ability to raise funds are impacted by our credit ratings.
  • bac_10k_2017-02-23_492_363
    Other - Other
    Breaches of these representations and warranties have resulted in and may continue to result in the requirement to repurchase mortgage loans or to otherwise make whole or provide other remedies to investors, securitization trusts, guarantors, insurers or other parties collectively, repurchases.
  • bac_10k_2017-02-23_993_2465
    Other - Other
    , approximately 34 percent of these customers with an outstanding balance did not pay any principal on their HELOCs.
  • bac_10k_2017-02-23_1528_1362
    Other - Other
    Trading limits are set at both a granular level to allow for extensive coverage of risks as well as at aggregated portfolios to account for correlations among risk factors.
  • bac_10k_2017-02-23_372_276
    Other - Other
    driven by the impact of growth in loans and leases and higher deposits.
  • bac_10k_2017-02-23_976_882
    Financial - Shares / Equity
    For outstanding balances in the home equity portfolio on which we service the first-lien loan, we are able to track whether the first-lien loan is in default.
  • bac_10k_2017-02-23_497_2147
    Financial - Expense
    The liability for representations and warranties and corporate guarantees is included in accrued expenses and other liabilities on the Consolidated Balance Sheet and the related provision is included in mortgage banking income in the Consolidated
  • bac_10k_2017-02-23_75_1843
    Financial - Income
    primarily driven by a decline in production income, higher representations and warranties provision and lower servicing income, partially offset by more favorable mortgage servicing rights MSR results, net of the related hedge performance.
  • bac_10k_2017-02-23_1393_1238
    Other - Other
    In addition, we consider the increased risk of default associated with our interest-only loans that have yet to enter the amortization period.
  • bac_10k_2017-02-23_562_483
    Other - Other
    The executive management team monitors business performance throughout the year and provides the Board with regular progress reports on whether strategic objectives and timelines are being met, including reports on strategic risks and if additional or alternative actions need to be considered or implemented.
  • bac_10k_2017-02-23_1513_1307
    Revenue - Geography
    Foreign exchange risk represents exposures to changes in the values of current holdings and future cash flows denominated in currencies other than the U.S. Dollar.

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Exhibit 4.A - INSTRUMENTS DEFINING THE RIGHTS OF SECURITY HOLDERS, INCLUDING INDENTURES

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Exhibit 4.I - INSTRUMENTS DEFINING THE RIGHTS OF SECURITY HOLDERS, INCLUDING INDENTURES

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Exhibit 10.RR - MATERIAL CONTRACT

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Exhibit 12 - STATEMENT REGARDING CALCULATION OF RATIOS

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Exhibit 21 - SUBSIDARIES OF THE REGISTRANT

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Exhibit 23 - CONSENTS OF EXPERTS AND COUNSEL

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Exhibit 24 - POWER OF ATTORNEY

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Exhibit 31.A - RULE 13A-14A/15D-14A CERTIFICATION

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Exhibit 31.B - RULE 13A-14A/15D-14A CERTIFICATION

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Exhibit 32.A - SECTION 1350 CERTIFICATION

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Exhibit 32.B - SECTION 1350 CERTIFICATION

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  • Form Type: Annual
  • Number of times amended: 0
  • Accession Number: 0000070858-17-000013
  • Submitted to the SEC: Thursday, February 23, 2017
  • Accepted by the SEC: Thursday, February 23, 2017
  • Period Ending: December 2016
Companies
 

BAC Morningstar

BANK OF AMERICA CORP

$22.89 +0.07 (+0.31%)

Day's Range:
$22.73 to $23.14

52-Week Range:
$12.05 to $25.80

Volume:
61,294,821

Volume (Avg):
87,426,800

Earnings per Share:
$1.62

PEG / Short / PE Ratios:
1.11 / 1.54 / 14.09

Market Cap:
$240.72B

Book Value:
24.36

EBITDA:
$0.00